By Vangjel Dhimo on March 5, 2023
If you’re considering buying real estate in Saranda, Albania research and planning are crucial for a successful start, just like with any major financial decision. One of the first steps is finding the best real estate agent for your needs, which can be challenging when you’re looking for houses in another country.
Fortunately, the internet has made it easier to research nearly anything from anywhere worldwide, including the available homes in Saranda. The real estate market in Saranda is open, allowing most firms to advertise and sell properties using the same database.
With so many options, it’s essential to complete your homework and approach each agent with an open mind. You don’t have to choose an agent right away, and it’s wise to work with a few agents to determine who you feel most comfortable with.
After reviewing your options, narrow your choices to one agent you can trust to carry out your ideas. At Elite’s Realty Group, we take pride in our team’s knowledge and experience in the field, and we’re confident we can help you find your ideal home in Saranda.
Contact us today to learn more about our services.
TRAVELING TO SARANDA AND ORGANIZING YOUR PROPERTY VIEWINGS
Tip 1: Make a list of potential homes that interest you before you arrive in Saranda. Planning ahead will save you time and make your property viewings more efficient.
Tip 2: Work with your chosen real estate agent to schedule a number of viewings throughout the day. This will allow you to learn more about the market and see as many properties as possible.
Tip 3: We recommend viewing around five properties every day. Viewing too many can be overwhelming and impact your judgment. However, if you have a short vacation, you may choose to see up to 10 properties in a single day.
Tip 4: When viewing properties, take note of the neighborhood. Consider factors like noise level, proximity to schools or the beach, and whether the property is in a gated community.
Tip 5: If you like a property during a daytime viewing, try to visit it again at night. This can change the way a home feels and alter your perception of it.
Tip 6: Don’t hesitate to express your opinions about the properties you see. Let your agent know what you like and don’t like. This will help them recommend properties that best meet your needs.
Tip 7: Be prepared for your viewings to change and be updated. No matter how much you plan, you may change your mind about what you’re looking for. Choose your real estate agent carefully, as they will be able to quickly adjust and find the best options for you.
NEGOTIATING WITH PROPERTY OWNERS IN SARANDA
Once you find a property that meets your criteria, negotiating with the owner is the next step. Here are some tips to consider during this crucial phase:
We recommend submitting your purchase offer in writing, usually in the form of an offer letter through your agent. This offer letter should include the suggested price, payment schedule, and deadlines.
It’s important to understand what’s included in the sale of the home, such as furnishings and fixtures, before making an offer. Ensure that your offer is reasonable and serious. The more serious your offer appears on paper, the more likely you are to obtain the best deal.
While some buyers choose to negotiate with the seller in person after making an offer, these discussions are typically less formal and more casual. When dealing with an agent or submitting an offer in writing, the process is usually more regulated and methodical. In our opinion, using an agent to negotiate for you is beneficial, particularly because they have experience with the bargaining process.
Remember to express any additional unique conditions or demands that you would like the seller to consider before buying the property in the initial offer.
Be prepared to ask and answer questions during the negotiation process. Make sure to clarify any uncertainties or ambiguities to avoid misunderstandings.
WHAT IS THE BEST OFFER TO MAKE ON A PROPERTY?
A reasonable and sincere written offer is usually the best option. The more serious your offer appears in writing, the more likely you are to be successful in obtaining the best possible terms. However, there are times when the buyer and seller negotiate the final offer in person, which can be just as effective as written negotiations. There is no right or wrong way to make an offer, but in our experience, it is almost always better to do so through your agent, who can assist you during the negotiation process and help you achieve the best possible outcome.
SIGNING CONTRACTS IN ALBANIA
When purchasing real estate in Saranda, Albania, you will go through the legal stage after the seller accepts your offer. This stage involves signing a reservation contract, a purchase contract, and an official deed at the Notary on the day of completion. However, you may also be required to sign additional contracts, including a sale and purchase contract or a pre-sale agreement.
The sale and purchase contract is the most common type of contract used in Albania for the sale and purchase of the real estate. It outlines the terms and conditions of the sale, including the price, any contingencies, and the rights and obligations of the parties involved.
On the other hand, when a property is under construction and the buyer wants to purchase it before it is completed, they use a pre-sale agreement. The contract outlines the terms of the pre-sale agreement, including the price and the completion date, and the buyer makes payments through a payment plan.
It is crucial to have a clear understanding of the terms and conditions of any property-buying contract in Albania. If necessary, our company, with more than 30 years of experience, can provide you with legal advice on the legal aspects of property buying contracts in Albania.
WHAT TO KEEP IN MIND AFTER PURCHASING REAL ESTATE IN SARANDA ALBANIA
People must realize that they have to pay extra fees once they purchase a piece of real estate in Saranda, Albania, and that the expenses spent to acquire the property are not the only costs that they must pay. Our website contains an educational article about the purchase taxes and fees associated with buying a house in Saranda even though we live in a tax haven. Furthermore, we have a section dedicated to basic tax guidance and other resources that we recommend reading.
REGISTERING YOUR HOME
Ensure that you update the name and bank information on any past utility and community invoices to your information. We are once again responsible for ensuring that everything goes well and without requiring too much of your time. We look after the registration of your property after the contract and it usually takes us 2 weeks maximum.
OWNERSHIP OF A PROPERTY
Now that you own a property in Saranda, Albania here is some useful information on the costs you will experience as a homeowner:
EXPENSES FOR PROPERTY MAINTENANCE FEES
The size and kind of the property affect the maintenance costs (cleaning, repairing, reforming, utility bills, waste collection, and so on). A huge villa with a garden and pool will cost significantly more to maintain than a tiny apartment. The minimum to the maximum for luxurious apartments is from 250-350 euros per year.
PROPERTY OWNERSHIP TAX
The tax rate is 0.05% of the value of the villa/apartment, generally 50-100 euros each year, based on the valor cadastral imposed by the town hall.
PERSONAL INCOME TAX
People who own property in Saranda, Albania and rent it out then they will be subjected to an income tax of 15%, which is affected by whether or not the property is rented out. However, you can consult with our property experts who have an extensive experience in the financial field and they would be more than happy to help you reduce your taxes legally in different ways. For example, you may reduce your net income by including all of the rental charges that can be subtracted in any case like repairs and maintenance costs of the property.
CONCLUSION
Before you even consider buying property in Saranda, Albania you must have everything organized and thoroughly understand the Albanian purchase procedure. This may appear to be confusing, and there is a lot of information to consider during the buying process. This is why having an experienced and trustworthy real estate agent at your side to help you through the process and provide emotional support is critical. View your realtor as your very own professional matchmaker who will present you with your dream property and ensure that you connect and feel at ease. Choose an Elite realtor for this purpose.
